XAUUSD Gold, a Selling Pressure with a Chance to Bounce Up Again
As we can see on the chart, a selling power is controlling the market.. The last day candle closed under the 1275 level which means the support level has been broken. The targets now are at 1265, 1260 and 1255 respectively.. It could bounce from the current level because it's at the lower line of the descending channel.. But, don't buy until it breaks the down-trend and the last top of the down-trend at 1280.. The most important thing it to watch also this week's candle closing. It needs to break over 1275 to give a hope for Buyers again.. Best Regards,
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